In a difficult quarter for hedge funds, and rather pleasant
one for the S&P 500, Daniel Loeb bested the market with a 13.3% in his
Ultra Fund in the first three months of the year, according to CNBC.
By
comparison, the S&P returned 10%, and the average hedge fund eked out just
3.13%. Loeb, the leader of hedge fund Third Point well known for his stormy
business shakeups in his activist investment targets and event-driven
investment strategy, saw several points of his strategy blossom this year.
Loeb’s best play in the quarter was Yahoo, whose share price
increased 18% year to date….
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